Getting the Highest
Price in the Shortest Time-
In order to get the highest price in the shortest time, you need
to know how to market your home. The better you market your home,
the more offers you will get. And the more offers you get, the
more choices you have to get the price and terms you want.

The most important factor of marketing your home is
pricing it right. Your price should be adjusted to reflect the market,
and the property's worth. The key is to get many people checking out
your property at a fair price instead of having no buyers because your
price is set to high.

Another important factor is the condition of your home.
Make sure that your home looks ready to be sold. Fix any defects (peeling
or faded paint, cracks, stains, etc.) Condition alone can sometimes prompt
fast buying decisions. Not only should you fix any defects, but consider
upgrading your home by making major repairs and cosmetic improvements
before selling. A nice looking home triggers the emotional response that
can lead to a financial response.

Learn how to negotiate the best terms for all parties
involved. Terms are another factor which may be adjusted to attract buyers.
If you insist on getting your asking price, think of what you can offer
to the buyers, for example, improvements you've made, or even offering
seller financing at a lower than market interest rate on a portion of
the sale price. Convince them why they should be paying the price you
have set.

Lastly, get the WORD out about your home. List your
house with a hot agent that ensures your house is listed on the MLS and
on the internet. On your own, get the word out. It should be visible
to passerby’s that your house if for sale, whether it be signs,
local advertisements or you telling friends, family, and acquaintances.

Making a Good First
Impression - If you want buyers to be interested
in your home, you need to show it in its best light. A good first
impression can influence a buyer into making an offer; it influences
a buyer emotionally and visually. In addition, what the buyer first
sees is what they think of when they consider the asking price.

A bad first impression weighs in as deeply. Don't show
your property until it's all fixed up. You do not want to give buyers
the chance to use the negative first impression they have as means of
negotiation.

Ask around for the opinions others have of your home.
Real estate agents who see houses everyday can give solid advice on what
needs to be done. Consider what architects or landscape designers have
to say. What you need are objective opinions, and it's sometimes hard
to separate the personal and emotional ties you have for the home from
the property itself.

Typically, there are some general fix ups that need
to be done both outside and on the inside. As a seller, you should consider
the following:

Landscaping
- Has the front yard been
maintained? Are areas of the house visible to the street in good condition? Cleaning or Redoing the driveway - Is your driveway cluttered
with toys, tools, trash etc.? Painting- Does both the exterior and the interior
look like they have been well taken care of? Carpeting - Does the carpet have stains? Or does the
carpet look old and dirty?

Know Why You are Selling -
If you know exactly why you are selling, then it is easier for you to
set the right plan of action to get what it is that you want.

If you are a seller who needs to close a sale as quickly
as possible, then you should know that getting the highest price possible
is not one of your priorities. It does not mean that you won't or cannot
get the highest price, but it means that the price is not the deciding
factor. A buyer who can give you a quick closing time will appeal much
more to you than a buyer who can offer you more money but the negotiation
and closing time drag on.

It's always good to know how low you will go, in terms
of selling price. This will help to eliminate some of the offers that
you find simply offensive or ridiculous. Even though you should consider
all offers seriously and take into consideration the terms of each offer,
sometimes, if you know the bottom line and are strict about it, you can
save yourself time.

Once you know what your limits and reasons are, discuss
them with your agent so that they can help you set your goals realistically.
If you decide to list your home on your own, make sure you do research
on the current market, and you get the proper advice you need in terms
of legal issues, etc. The key is to be realistic and to know what your
goals are so that they can be met.

Setting the Price -
The price is the first thing buyers notice about your property. If you
set your price too high, then the chance of alienating buyers is higher.
You want your house to be taken seriously, and the asking price reflects
how serious you are about selling your home.

Several factors will contribute to your final decision.
First, you should compare your house to others that are in the market.
If you use an agent, he/she will provide you with a CMA. The CMA will
reflect the following:

houses in your price range and area sold within the last half-year

asking and selling prices of houses

current inventory of houses on the market

features of each house on the market

From the CMA, you will find out the difference between
the asking price and selling price for all homes sold, the condition
of the market, and other houses comparable to yours.

Also, try to find out what types of houses are selling
and see if it applies to your area. Buyers follow trends, and these trends
can help you set your price.

Always be realistic. And understand and set your price
to reflect the current market situation.

Plan of Action -

1) Analyze why you are selling - If you understand your
motives, you will be able to better negotiate and to get what it is that
you want, whether it be a quick sale, high price, or somewhere in the
middle.

2) Prepare you home for the buyer - Maximize the strengths
of your property and fix up it's weaknesses. You want the buyer to walk
away from your home with a lasting good impression.

3) Find a good real estate agent that understands your
needs - Make sure that your agent is loyal to you, and can negotiate
to help you achieve your goals. In addition, they should be assertive
and honest with both you and the buyer.

4) Be prepared for negotiation - Learn and understand
your buyer's situation; what are their motives? Can you demand a big
deposit from them? Try to lock in the buyer so that the deal goes through.

5) Negotiate for the best price and the best terms -
Learn how to counter offer to get more from every offer.

6) Make sure the contract is complete - Be honest with
your disclosures; you do not want to lose the deal because you were lying
or diminishing your home's defects. Insist the buyers get a professional
inspection. This will protect both you and the buyer.

Considering
Offers -
When reading an offer, keep in mind that you are out to get the best
price AND the best terms for you. If you focus solely on the price, you
may overlook terms that could be favorable to you as a buyer.

Some terms that may work in your favor:

higher-than-market-interest in a second mortgage for your home

the buyer will pay for most or all of the closing costs

the buyer will take care of any repairs

quick close - the buyer is pre-approved and ready to close in a
time that best suits you

all-cash deal

When reading through offers, remember to look at the
whole package. Take the time that you need to assess what is being offered
and if it meets your needs.

Insist on a Home Inspection -
A professional home inspection protects both you and the buyer. It allows
both you and the buyer the opportunity to learn about the property's
defects.

A home inspection usually covers the following:

Plumbing conditions - if there is leakage or clogging

Roofing conditions - the extent of deterioration, if there
is leakage

Electrical conditions - if there are inadequate circuits
or potential fire hazards

Structural problems - if there are problems with the underlying
foundation of your home

As a seller, the home inspection reports protect you
because it establishes the actual condition of the property at the time
of sale.